Property Highlights
NOTES
- Adverse market conditions and significant gap between Buyer and Seller pricing expectations
- Buyer required six tenant renewals as a condition of the sale
- Significant tenant decided to vacate property a few days prior to closing
- Sale required assumption of two life company loans
- One of the two loans had significant issues involving release of Seller from a personal guarantee and required side agreements and concessions from Buyer and Seller
Property Overview
Flex / Industrial
1105 Mockingbird Drive Omaha, NE
1988 - 1995
145,267 SF (3 Buildings)
The End Result
March 31, 2010
$8,127,777
$55.95
MAJOR POINTS
- Sale involved two separate closings
- Worked with Buyer and Seller to obtain acceptable lease renewals with all tenants
- Worked through extensive due diligence process with Buyer
- Worked through loan assumption process with Buyer, Seller, legal counsel and loan servicer
- Met critical closing date for Buyer
